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INFORMATION 09-20-2021
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INFORMATION 09-20-2021
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9/17/2021 11:36:59 AM
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Information <br />City <br />E <br />Memorandum <br />TO: Mayor and City Council <br />From: Lori Stich, Assistant Finance Director <br />Date: September 20, 2021 <br />Subject: August 2021 Monthly Financial Report <br />This report is designed to provide summary information regarding the overall level of revenues and <br />expenditures in the General Fund, the Multipurpose Facility Special Revenue Fund, and the <br />Enterprise Funds. These funds provide an important picture of the city's financial health. <br />For the month of August, actual revenues (excluding property taxes and transfers in) and <br />expenditures should run about 67% of the annual budget. It is natural for some of the items to vary <br />from month to month, such as exceeding budget for Supplies but being below budget for Services. <br />This is not considered serious as long as the total expenditure budget amount is not overspent. <br />Significant variances from budget are highlighted below accompanied with a general discussion for <br />the variance. <br />GENERAL FUND <br />Revenues: <br />■ License & permit collections have exceeded budget estimates with August collections <br />consisting primarily of building -related permits. <br />■ Intergovernmental revenues for August consist of the state reimbursement for police <br />training. <br />■ Charges for services are about 97% of budget estimates with August collections consisting <br />mainly of plan check fees. <br />■ Fines and forfeits, which lag a month for collections, are running about 67% of budget. <br />■ Transfers in consists of ERMU's 4% July electric revenues and the budgeted transfer from <br />HRA into the General Fund. <br />Expenditures: <br />■ Total departmental expenditures are about 60% of budget and most departments are within <br />or below budget estimates. <br />
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